WebAug 29, 2024 · Minivans will typically last 200,000-300,000 miles but how long they last depends on whether maintenance and repairs are performed as needed over its life. The minivans that typically last the longest are … WebMar 12, 2024 · I tracked the mileage for business use and wondering if I can take the standard mileage deduction for business mileage? The reason I am asking is that I …
Can I take the standard mileage rate for rental car? - Intuit
WebApr 6, 2024 · To use the standard mileage rate, you must own or lease the car and: You must not operate five or more cars at the same time, as in a fleet operation, You must not have claimed a depreciation deduction for the car using any method other than straight … You generally can't deduct in one year the entire cost of property you acquired, … Standard mileage and other information POPULAR; Earned Income Credit … Standard mileage rate. For 2024, the standard mileage rate for the cost of … Information about Schedule C (Form 1040), Profit or Loss from Business, used to … Information about Form 2106, Employee Business Expenses, including recent … WebYou should investigate whether claiming the standard deduction (vs. itemized deductions) provides you a better tax benefit. Mileage for medical care is included in your medical deduction. The rate is $0.16 for 2024. Mileage for volunteer work is included in your charitable deduction. The rate is $0.14for 2024. cse risk assessment tool
Business Use of Vehicles - TurboTax Tax Tips & Videos
WebMar 12, 2024 · I tracked the mileage for business use and wondering if I can take the standard mileage deduction for business mileage? The reason I am asking is that I read from somewhere that standard mileage rate includes depreciation, and since the rental car company already claimed depreciation we cannot double claim it. TurboTax Premier … WebIf you use the standard mileage rate, you can only deduct the mileage at a standard rate. For 2024, the rate is $0.63. You cannot deduct self-employed vehicle expenses, including: Actual vehicle expenses Depreciation Lease payments Maintenance Repairs Gasoline Oil Insurance Vehicle registration fees WebJan 10, 2024 · The IRS indicates that a rental activity is passive even if you materially participated in it, but two more rules offer exceptions: five exceptions for rental activities … c series transperth